Affirm Stock (+12%): Amazon Renewal De-Risks Bull Case

Affirm surged +12% on December 16, 2025, following the announcement of a renewed partnership with Amazon until 2031. The move was marked by aggressive buying and significantly higher-than-average volume. But with the stock already on a strong run, is this renewed partnership a genuine fundamental catalyst or merely a justification for institutions to chase performance into year-end?

The primary catalyst was the announced renewal of their partnership with Amazon (AMZN), a key strategic partner. During a virtual fireside chat, CFO Rob O’Hare confirmed the extension through January 2031, largely on similar terms. This alleviates a significant overhang for the stock, solidifying a major revenue source and distribution channel.

• The business is “performing in line with expectations” for the quarter, according to the CFO.
• Management is not seeing stress in consumer repayment rates.
• The renewal de-risks a major part of the investment thesis for Affirm.

Trade Mechanics & Money Flow

Trade Mechanics: What Happened?

The stock’s move was technically significant, breaking out to its highest level in a month. This was accompanied by a surge in volume, indicating strong institutional interest. The trading volume was notably higher than the recent average, suggesting a high conviction move.

• Trading volume reached 8.47M shares, well above the three-month daily average of 5.93M.
• Short interest stood at 15.27 million shares as of late November 2025.
• The move pushed the stock to its highest level since November 13, 2025.

How Is The Money Flowing?

The price action suggests a significant institutional footprint. The aggressive buying and high volume point to accumulation by large players who may have been waiting for a catalyst to increase their positions. The move also likely triggered stop-loss orders from short-sellers, adding fuel to the rally.

• The stock reached an intraday high of $73.72.
• Analysts have a consensus “Moderate Buy” rating with an average price target of $86.57.
• Recent analyst ratings have been mixed, with some reiterating ‘outperform’ and others initiating with ‘peer perform’.

Understanding trade mechanics, money flow, and price behavior can give you and edge. See more.

What Next?

FOLLOW. The Amazon partnership renewal is a significant de-risking event that solidifies a core part of Affirm’s growth story. While the stock has had a strong run, this news provides a fundamental underpinning for a potential move higher. Watch the $75 level next. This is a key psychological and technical resistance area. A sustained break above this level on high volume would signal a continuation of the uptrend and could attract further institutional buying.

That’s for now, but so much more goes into evaluating a stock from long-term investment perspective. We make it easy with our Investment Highlights

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